The Mortgage Bankers Association is a national association serving that segment of the financial industry in this country that deals in both residential and commercial real estate financing. It has its headquarters in Washington D.C., but the MBA has connections with literally every segment of the American financial industry and its analysis and reports are respected as being sound.

“Commercial and multifamily mortgage borrowing slowed in the third quarter,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “Even though low interest rates continue to make borrowing extremely attractive, a moderate pace of commercial property sales transactions and a continued drop in the volume of commercial mortgages maturing limited the overall amount of commercial mortgage loans originated.”

The important thing for South Florida to remember when considering these numbers is that this is a national report, and what may be true for the United States overall in a broad brush may not jive with what Florida, especially South Florida and the Miami metroplex, is experiencing.

Things are different for our neck of the woods than they are in other parts of the country. For better and for worse - we're the state that has made history in foreclosure numbers - and Florida commercial real estate may be doing much differently than this national overview suggests. Still, these numbers are important to Florida and reveal something we all know: it's still a struggling economy out there for commercial real estate interests.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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